Minister of Finance and the Public Service Dr Nigel Clarke says he will provide further details about the proposed catastrophe bond being developed for Jamaica in his budget presentation next month.
Dr Clarke made the disclosure while addressing the opening ceremony for the two-day European Investment Bank (EIB) Caribbean Roadshow 2020 symposium at AC Marriot Hotel in New Kingston last Wednesday (February 12).
The catastrophe bond is an investment instrument designed to generate funding to better enable the Administration to adequately prepare for and respond to climate-and weather-related events. Under such a bond, the Government will make premium payments against a principal sum.
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